TNA Reportedly Out Of Money, New Owners Possible

TNA Reportedly Out Of Money, New Owners Possible

Dave Meltzer provided an update on TNA during Tuesday morning’s Wrestling Observer radio. Meltzer referenced the story by Mike Johnson about a loan being given to TNA and if that loan was not paid then the company would be turned over to Aroluxe. Meltzer didn’t flat out say that Johnson’s story was wrong but it was inconsistent with everything he’s heard. I will say that people familiar with the situation have said that Johnson’s story was not accurate.

Meltzer noted that while there are other negotiations going on, the people at Aroluxe are the key people that TNA has been talking with. The thing is that the people at Aroluxe have been the only ones that have committed to buying TNA and they want controlling interest. Dixie Carter is trying to find someone that can buy a share of the company while she remains in power. So far, she has not been able to find anyone willing to do that. What is clear is that a deal has to be made with someone soon so they can get some money in because they don’t have any money. As noted before, Aroluxe funded their last TV tapings and they are probably funding the next tapings. TNA did not have money for the rent at Cummins stations so that should tell you how bad their money situation is. Meltzer added, “it’s really bad. You wouldn’t believe how bad it is. When I say they’re out of money – they’re out of money.”

TNA has made presentations to other people to get funding and the only people that have funded them is Aroluxe. Aroluxe is not that big of a company so it’s hard to see how they can turn things around for TNA. When the news got out on Monday, the feeling was that the news leaking could jeopardize the deal but the fact is that the news was going to get out eventually and it did leak on twitter early on Monday morning. In the last 24 hours, a bunch of fans have been sending tweets to Pop TV President Brad Schwartz that include Aroluxe employees Ron and Don Harris in them. One of the tweets shows one of the Harris brothers wearing a shirt with a Nazi bolt logo from one of the early TNA shows in 2002. Other photos show the Nazi symbol tattooed on their arms. Granted, the photos are from over a decade ago but that kind of stuff is probably not helping TNA. The Harris brothers work for Aroluxe as employees and are not in charge of the company so anything posted online about the Harris brothers buying TNA is false.

TNA talent has been told that this week’s TV tapings in Orlando are still on and not to believe anything they read online. The big question is what happens if someone ends up buying TNA. The brand is damaged and the company doesn’t generate much money with TV ad revenue. The ratings are down 31% even though Pop TV is in many more homes than they were in February and Pop is available in many more homes than Destination America. Also, TNA wrestling is considered a bad fit with Pop TV because Pop generally airs programming geared towards women.

There rumors that TNA has reached out to people in the television business but they have not shown interest in TNA.